Hornby plc (GB:HRN) has released an update.
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Hornby PLC has secured an extension and increase of its credit facility with Phoenix UK Fund Limited, boosting the loan from £11.25 million to £12.55 million and extending the repayment deadline to December 2025. This financial reinforcement supports Hornby’s ongoing turnaround strategy and provides additional resources to maintain the company’s positive trajectory. The deal, deemed fair by independent directors and advisors, also underscores the patience required for Hornby’s cost-saving and efficiency efforts to fully materialize.
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